EANS-News: Tantalus Rare Earths AG New high grade REE mineralisation found -
First results received from pitting programme on Target 5 (with document)
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Company Information/Drilling results from programme on Target 5
Düsseldorf (euro adhoc) - New high grade REE mineralisation found - First
results received from pitting programme on Target 5
(Tantalus-AG, Düsseldorf, 24 August 2011) The Directors of Tantalus Rare Earths
AG ("TRE"), a German company exploring an extensive area of secondary rare earth
mineralisation at surface and primary, near-surface bedrock rare earth
mineralisation in north-western Madagascar (the "TRE Project"), are pleased to
announce the first assay results from their pitting programme on Target 5, the
Ampasibitika South Target.
Target 5 is the southern extension of the Ampasibitika prospect where diamond
drilling has been taking place since July 2010. This prospect has a total
surface area of 4.5 km². Outcrops are scarce due to the presence of thick
argillaceous laterites ("clays"). The target area is suspected to be underlain
by dykes of REE-bearing alkaline igneous rocks which intruded into sediments. In
June 2011, TRE commenced an extensive pitting programme on this target. To date,
69 pits have been excavated with another 5 pits currently in progress. The
company initially plans to excavate a total of 140 pits on this target.
The first assay results received from ALS Chemex, Canada for 15 of the pits
confirm that the argillaceous laterites are indeed rare earth bearing. The pits
reached maximum depths of 10m or were stopped when groundwater or bedrock was
encountered. Eight out of the 15 pits appear to have ended in mineralisation.
Additionally, the TREO grades increase with depth.
The highest TREO grade encountered in the channelled pit samples is 0.37% over
0.50m. The percentage of the more valuable heavy rare earth oxides averaged per
pit between 11 and 27% of TREO, with a maximum ratio of 32%. Niobium, tantalum,
tin, gallium and zirconium are partly enriched and potentially constitute
economic by-products. Significantly, uranium and thorium levels are very low,
reducing future mining and environmental risks.
Most importantly, pit TPIT026 revealed bedrock REE mineralisation at a depth of
-5.60 m with a TREO grade of 1.68%. This rare earth mineralisation appears to
have different characteristics from the other primary REE mineralisation
identified so far. It is particularly poor in cerium but very rich in neodymium,
praseodymium, samarium, europium, gadolinium, terbium, dysprosium and yttrium.
It is also associated with less Zr, Ta, Nb, Ga and Sn. Uranium oxide and thorium
oxide attain only very low levels of 2 and 9 ppm respectively. This exciting
primary REE mineralisation will be subject to diamond drilling later this year.
Elsewhere on the property, exploration activities are advancing rapidly. On the
Ampasibitika Prospect (Target 1), a total 15,580m of diamond drilling has been
completed to date. An update on the drilling progress and the results will
follow and be presented before the end of this month. On the Befitina Prospect
(Target 3), 180 pits have been excavated so far, with another 12 currently in
progress. At the Caldera prospect (Target 4), after completing a total of 186
pits, pitting was interrupted in order to excavate two deep trenches on a new
high-grade bedrock REE mineralisation which will be subject of a forthcoming
press release later this month.
Commenting on these results, Wolfgang Hampel, Chief Geologist and COO of
Tantalus Rare Earths AG said:
"The newest results are very exciting. Not only that we now can confirm the
presence of REE bearing argillaceous laterites on a new zone, but also that we
have identified an additional type of primary rare earth mineralisation. It is
high grade and the partition of the REE is highly advantageous with very low
cerium contents and high grades of dysprosium, praseodymium, europium, neodymium
and others. This target certainly justifies diamond drilling in addition to the
ongoing sampling of the overlying REE bearing argillaceous laterites."
The summary table showing the TREO, % of HREO, niobium oxide, tantalum oxide,
tin, gallium, zirconium oxide, uranium oxide and thorium oxide from four pits on
Target 5 is attached to this release as a PDF.
Notes to Editors
About Tantalus Rare Earths ("TRE")
TRE is a German incorporated holding company whose subsidiaries are engaged in
the exploration and development of rare earths. TRE's shares are quoted on the
Open Market of the Frankfurt Stock Exchange.
TRE's principal asset is an exploration project located in north-western
Madagascar and comprises rare earth-tantalum-niobium-zirconium-hafnium enriched
dykes and sills and Rare Earth Element ("REE") bearing argillaceous laterites
derived from the weathering of underlying alkaline intrusives.
There are numerous indications that most of the alkaline intrusive bodies within
the concession are overlain by REE bearing argillaceous laterites. TRE is
therefore considering the whole area underlain by alkaline intrusives (150 to
170 sq km) as prospective for secondary REE mineralisation in the weathering
crust.
The exploration programme aims to define the primary (vein/skarn hosted) and
secondary (argillaceous laterites) mineralisation present on the concession
towards a NI 43-101 compliant mineral resource estimate and support a detailed
feasibility study towards mine development and production.
Tantalus Rare Earths AG
Berliner Allee 12
40212 Düsseldorf
Deutschland
Telefon: +49 (0)211 52391 430
Telefax: +49 (0)211 52391 200
e-Mail: contact [at] tre-ag.com
Internet: http://www.tre-ag.com
Attachments with Announcement:
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Further inquiry note:
For further information contact:
Ivan Murphy, executive director TRE Tel: +44 (0) 20 3214 9930
Ana Ribeiro Blythe Weigh Communications Tel: +44 (0) 207 138 3206
or +44 (0) 7980 321 505
end of announcement euro adhoc
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Attachments with Announcement:
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company: Tantalus Rare Earths AG
Berliner Allee 12
D-40212 Düsseldorf
phone: +49 (0)211 52391 430
FAX: +49 (0)211 52391 200
mail: contact [at] tre-ag.com
WWW: http://www.tre-ag.com
sector: Holding companies
ISIN: DE000A0SMSL4, DE000A1KRQE7
indexes:
stockmarkets: free trade/entry standard: Frankfurt
language: English